Yahoo net up 28% on high search revenues
19 April 2012 7:37 PM GMT
Struggling Internet firm Yahoo Inc has reported a 28 per cent jump in net earnings to $286 million in the January-March quarter of 2012 mainly by higher search revenues.
The company had net earnings of $223 million in the year-ago period, Yahoo said in a statement.
For the three-month period ended 31 March, Yahoo said its revenues rose 1 per cent to $1.22 billion. The company’s revenue excluding traffic-acquisition costs - commissions paid to partners - increased to $1.08 billion.
“In the first quarter, Yahoo’s results came in at the high end of our guidance range and beat consensus on revenue and profits,” Yahoo CEO Scott Thompson said.
“We also made changes to resize the organisation and establish a new leadership structure to quickly deliver the best user and advertiser experiences at scale,” he added.
During the quarter, Yahoo’s core display-advertising business was down four per cent to $454 million, while search revenue surged by 8 per cent from year-earlier to $384 million in the first quarter of 2012.
In comparison, rival Google’s first quarter net income spurted 61 per cent to $2.89 billion and revenue soared by 24 per cent from last year to $ 8.14 billion.
Looking ahead, Yahoo expects revenues revenue between $ 1.03 billion and $1.14 billion, excluding commissions paid to marketing partners for the second quarter. Overall, revenues for the second quarter are expected to be in a range of $1.17 billion to $1.29 billion.
The company had net earnings of $223 million in the year-ago period, Yahoo said in a statement.
For the three-month period ended 31 March, Yahoo said its revenues rose 1 per cent to $1.22 billion. The company’s revenue excluding traffic-acquisition costs - commissions paid to partners - increased to $1.08 billion.
“In the first quarter, Yahoo’s results came in at the high end of our guidance range and beat consensus on revenue and profits,” Yahoo CEO Scott Thompson said.
“We also made changes to resize the organisation and establish a new leadership structure to quickly deliver the best user and advertiser experiences at scale,” he added.
During the quarter, Yahoo’s core display-advertising business was down four per cent to $454 million, while search revenue surged by 8 per cent from year-earlier to $384 million in the first quarter of 2012.
In comparison, rival Google’s first quarter net income spurted 61 per cent to $2.89 billion and revenue soared by 24 per cent from last year to $ 8.14 billion.
Looking ahead, Yahoo expects revenues revenue between $ 1.03 billion and $1.14 billion, excluding commissions paid to marketing partners for the second quarter. Overall, revenues for the second quarter are expected to be in a range of $1.17 billion to $1.29 billion.
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